Should I change withholding?

[wildwill]

 I'm married with 3 kids and only one working making around $39000 taxable income. my w-4 allowances throughout the year was 5 and still am getting a $7772 refund.. My question is can I bump the allowances up to 9 and just get less back next year? is there a penalty for doing this?

[TomK]

Perhaps this may help.  Fatten Your Paycheck and Still Get a Tax Refund: https://turbotax.intuit.com/tax-tips/tax-refund/fatten-your-paycheck-and-still-get-a-tax-refund/L5Ha...

https://turbotax.intuit.com/tax-tools/calculators/w4/